The National Bank of Oman (NBO) Muzn Islamic Banking has unveiled its pioneering Corporate Running Wakala Finance Product, a Shariah-compliant alternative to conventional overdraft facilities.
This solution aims to support businesses of all sizes by addressing their critical working capital needs, receivable financing, and other funding requirements.
Salima Obaid Issa Al-Marzoqi, Assistant General Manager & Chief Islamic Banking Officer at NBO, commented that, “At Muzn, we continuously strive to enhance Shari’a-compliant products to meet the evolving needs of our corporate clients. The Corporate Running Wakala Financing solution is a testament to our dedication to offer innovative and ethical financial services. This product caters to businesses seeking Sharia-compliant alternatives to conventional banking products. We are proud to support all businesses in Oman by providing flexible solutions that align with their operational and financial goals.”
This innovative solution provides several key benefits, making it an exceptional option for corporate clients. The product enables financing for a diverse array of short-term requirements, including cash flow management and liquidity needs. Additionally, the financing process is simple and transparent, focused on supporting business requirements effectively.
This highlights Muzn Islamic Banking’s commitment to developing pioneering Islamic financial solutions that address real-world corporate challenges. It provides clients with a flexible arrangement, allowing them to focus on their core operations while benefiting from an efficient financial partnership. NBO Muzn leads the way in making its offerings widely available, meeting the diverse needs of Oman’s corporate sector.
